Talkspace, Inc. (NASDAQ:TALK – Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.24 and last traded at $5.2250, with a volume of 3048495 shares trading hands. The stock had previously closed at $5.20.
Analyst Upgrades and Downgrades
TALK has been the topic of several research analyst reports. Barclays dropped their target price on shares of Talkspace from $5.50 to $5.25 and set an “equal weight” rating on the stock in a report on Monday, March 9th. William Blair downgraded shares of Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Northland Securities lowered shares of Talkspace from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Canaccord Genuity Group cut shares of Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, KeyCorp lowered shares of Talkspace from an “overweight” rating to a “hold” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.56.
View Our Latest Stock Report on Talkspace
Talkspace Trading Up 0.8%
Talkspace (NASDAQ:TALK – Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). Talkspace had a return on equity of 1.03% and a net margin of 0.49%.The business had revenue of $61.68 million for the quarter, compared to the consensus estimate of $63.32 million. As a group, sell-side analysts expect that Talkspace, Inc. will post 0.13 earnings per share for the current year.
Insiders Place Their Bets
In other Talkspace news, insider John Charles Reilly sold 55,144 shares of Talkspace stock in a transaction on Friday, June 12th. The shares were sold at an average price of $5.21, for a total value of $287,300.24. Following the sale, the insider directly owned 1,057,975 shares in the company, valued at approximately $5,512,049.75. The trade was a 4.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 23.50% of the company’s stock.
Hedge Funds Weigh In On Talkspace
Several hedge funds have recently modified their holdings of TALK. Royal Bank of Canada increased its holdings in shares of Talkspace by 102.1% during the 1st quarter. Royal Bank of Canada now owns 8,192 shares of the company’s stock worth $42,000 after acquiring an additional 4,138 shares during the last quarter. Cerity Partners LLC acquired a new stake in Talkspace during the 2nd quarter valued at $28,000. Neuberger Berman Group LLC bought a new position in Talkspace during the fourth quarter worth $38,000. Quantinno Capital Management LP bought a new position in Talkspace during the first quarter worth $55,000. Finally, Vise Technologies Inc. acquired a new position in shares of Talkspace in the fourth quarter valued at $40,000. Institutional investors own 57.37% of the company’s stock.
About Talkspace
Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.
The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.
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